ThredUp Inc. (NASDAQ:TDUP) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

ThredUp Inc. (NASDAQ:TDUP) has earned a consensus recommendation of “Moderate Buy” from the seven research firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $9.14.

Several equities analysts recently issued reports on the stock. TD Cowen boosted their price target on shares of ThredUp from $5.00 to $5.70 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Telsey Advisory Group lowered their price objective on shares of ThredUp from $9.00 to $7.00 and set an “outperform” rating for the company in a report on Tuesday, May 5th. Wells Fargo & Company cut their price objective on ThredUp from $10.00 to $8.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 5th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of ThredUp in a report on Friday, March 27th.

ThredUp Stock Performance

Shares of TDUP stock opened at $6.01 on Friday. The firm has a market capitalization of $775.53 million, a price-to-earnings ratio of -37.56 and a beta of 2.07. The stock has a fifty day moving average of $4.51 and a 200 day moving average of $5.02. ThredUp has a 52 week low of $3.08 and a 52 week high of $12.28. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.30.

ThredUp (NASDAQ:TDUP) last issued its quarterly earnings data on Monday, May 4th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.05). ThredUp had a negative net margin of 6.68% and a negative return on equity of 36.11%. The business had revenue of $81.67 million for the quarter, compared to the consensus estimate of $80.17 million. As a group, research analysts expect that ThredUp will post -0.09 earnings per share for the current year.

Insider Activity at ThredUp

In related news, COO Christopher Homer sold 61,578 shares of the company’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $4.43, for a total value of $272,790.54. Following the sale, the chief operating officer directly owned 1,301,843 shares of the company’s stock, valued at $5,767,164.49. This represents a 4.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Sean Sobers sold 45,554 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $4.43, for a total value of $201,804.22. Following the transaction, the chief financial officer directly owned 572,523 shares of the company’s stock, valued at $2,536,276.89. This represents a 7.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 23.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of TDUP. Vanguard Group Inc. grew its holdings in ThredUp by 8.9% in the fourth quarter. Vanguard Group Inc. now owns 7,530,479 shares of the company’s stock worth $48,120,000 after purchasing an additional 616,052 shares during the period. Needham Investment Management LLC lifted its holdings in shares of ThredUp by 7.0% during the fourth quarter. Needham Investment Management LLC now owns 6,075,000 shares of the company’s stock valued at $38,819,000 after purchasing an additional 400,000 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of ThredUp by 11.8% during the fourth quarter. Marshall Wace LLP now owns 4,825,251 shares of the company’s stock valued at $30,833,000 after purchasing an additional 509,195 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of ThredUp by 19.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,965,484 shares of the company’s stock worth $9,727,000 after purchasing an additional 473,907 shares in the last quarter. Finally, State Street Corp boosted its position in shares of ThredUp by 26.2% in the 4th quarter. State Street Corp now owns 2,886,417 shares of the company’s stock worth $18,444,000 after purchasing an additional 598,793 shares in the last quarter. 89.08% of the stock is owned by hedge funds and other institutional investors.

About ThredUp

ThredUp, Inc operates an online consignment and thrift platform that enables consumers to buy and sell secondhand clothing and accessories. Through its digital marketplace, the company offers curated selections of apparel for women and children, spanning a broad range of brands and styles. Sellers can order a “Clean Out Kit” to send in items they no longer wear, while buyers benefit from discounted prices and a simplified shopping experience powered by ThredUp’s in-house authentication, quality control and logistics capabilities.

In addition to its core consumer-to-consumer marketplace, ThredUp has expanded into business-to-business services with its Resale-as-a-Service (RaaS) offering.